This chapter describes the mechanical properties of fully pearlitic microstructures and their suitability for wire and rail applications. It begins by describing the ever-increasing demands placed on rail steels and the manufacturing methods that have been developed in response. It then explains how wire drawing, patenting, and the Stelmor process affect microstructure, and describes various fracture mechanisms and how they appear on steel wire fracture surfaces. The chapter concludes by discussing the effects of torsional deformation, delamination, galvanizing, and aging on patented and drawn wires.